Adnoc L&S 1st quarter revenue up 41% YoY at Dhs4,339 million

Adnoc Logistics and Services (Adnoc L&S) announced on Monday financial results for the first quarter (Q1) ending March 31st, 2025.

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Adnoc L&S revenue for Q1 was $1,181 million (Dhs4,339 million), a 41 per cent year-on-year increase.

Ebitda rose by 20 per cent to $344 million (Dhs1,262 million) in the same period, driven by robust performance across all business segments, sustaining the Ebitda margin at 29 per cent.

Net profit for Q1, 2025 was $185 million (Dhs678 million), down 5 per cent compared to Q1, 2024, mainly due to lower commercial shipping rates, but up 3 per cent compared to the previous quarter.

Despite evolving market conditions, Adnoc L&S' strategic diversification and resilient business model supports delivery of strong net profit and operating cash flow. The company continues to unlock additional value and efficiencies from its extensive portfolio of assets, while leveraging progressive synergies from its shipping and logistics subsidiaries, Navig8 and Zakher Marine International (ZMI).

Captain Abdulkareem Al Masabi, CEO of Adnoc L&S, said, "Adnoc L&S continues to deliver robust financial results and significant business growth. Our recent acquisition of 80 per cent of Navig8, and the integration of their capabilities into our expansive services portfolio, further strengthens our customer offerings and international footprint, unlocking new shareholder value.